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Facebook may have too many users for its cryptocurrency to fail — even if you don’t trust it

Facebook may have too many users for its cryptocurrency to fail — even if you don’t trust it

Libra, Facebook’s new virtual coin, is the most consequential cryptocurrency effort undertaken in several years.

On Tuesday June 18, 2019, Theodore Schleifer at Vox wrote:
And thats enough to make Libra, the new virtual coin that Facebook is announcing on Tuesday, the most consequential cryptocurrency effort undertaken in several years.

Cryptocurrencies can be used to digitally pay for goods and services, like a credit card, and to transfer funds, like Venmo.

Facebook is creating a new outside foundation to support Libra, a coin that the company is hoping will trade among its 2 billion users around the world and with Facebooks 28 partner organizations that are preparing to accept the currency in 2020. Some stock analysts are going so far as to predict this will be one of the most significant initiatives in the history of the company.

About the Author:

Get the latest independent tech news, reviews and analysis from Recode with the most informed and respected journalists in technology and media. Theodore Schleifer has recently written 3 articles on similar topics including :
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  • "It’s the third high-profile change at Greylock within the last year". (January 18, 2019)